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Otherwise, you are spending 2 days and a few hundred miles per year for less than $1000 net after taxes (assuming that $1200 is your net commission). If that $1200 is gross before your firm gets their paws on it, then that might not be worth it.
$1000 is about the lowest you should go for that sort of committment. In fact, $1000/yr. is about the lowest you should go on ANY account unless you are a high-volume broker.

Otherwise, you are spending 2 days and a few hundred miles per year for less than $1000 net after taxes (assuming that $1200 is your net commission). If that $1200 is gross before your firm gets their paws on it, then that might not be worth it.
$1000 is about the lowest you should go for that sort of committment. In fact, $1000/yr. is about the lowest you should go on ANY account unless you are a high-volume broker.[/quote]
Walk me through how a 1.5 - 2 hr round trip takes an entire day to complete. Set your appointments for 9am and you are back in the office by 11am at the latest.
Get another client out there Jack .. really make it worth the drive.

Probably shouldn't have let it get this way, but I started with a single client 60 miles away. Led to his friend, then her boyfriend. A second client found out I was in that area ... can you handle my mom? She lives 80 miles away. Then another referral, 110 miles away. Now that guy wants me to see his dad. All of them, really good clients.

I'd say about 70% of my book is located at least 20 miles from my office (the same scenario played out 40 miles south). I didn't plan it, but in retrospect if there weren't other, nearby clients I probably would have lost the first seedling in the area right away.
Guess I'm just saying be careful how it grows. Now I wish all my clients were closer, but who am I to complain?

I have plenty of clients out of state (mostly that moved after they became clients) that I just deal with on the phone. Yeah, it's great to say schedule meetings for 9:00am and be back by 11:00, but somehow it never seems to happen that way. Maybe you get lucky and it's a half day. Still, that's like 10 hours per year on a small client (plus calls, etc.). It's just my opinion that you have to be careful about spreading your self thin with small clients. Get 8-10 of those clients and it's a real pain in the a$$. If you can convince them to do it by phone, it's no problem.

I drove just under 100 miles round trip to open a new account that is worth around $1200.00 per year. I will have to make the same drive twice per year.

I would say that the drive was worth it but just barely.

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It's a slam dunk YES. Well worth it. Nice work. Go find another one 50 miles away and find some more to stop on the way. When we get out 1/2hr or more driving distance from the office we "put together a day" which is kindof what it's called, it just means you hit a bunch on the way out and on the way back. Spend a whole day out there and have 6 appts.

for $29.95 a month I use gatherworks to do web meetingsYesterday I did my quarterly review on my laptop with a client in Ca and Az and I’m in the Midwest. Both have $2mm + accounts and loved the meetings. Meet them face to face first and then move to online meetings unless they can come in.

All local meetings should be in the boardroom of their cpa or estate planning atty.

So you get to meet their advisors there and that can lead to more biz…

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